[Stephen Husted] (0:00 - 1:07)
There is absolutely no sugarcoating what is going on with mortgage rates right now. Plain and simple, they are on the higher side. The days are gone with the 2% to 3% interest rates.
That is in the past. At the end of the day right now, buying a house, it is what it is. And the best way to look at it is, if you can afford to buy a home, you got the down payment and you can afford the mortgage based on the interest rate that's out there right now currently, then buy a home.
Because sitting around and waiting for things to go down, waiting for the housing market, I've seen this time and time again. Heard about it online. People are saying things like, oh, we'll wait for the housing market to go down.
We'll wait for the interest rates to go down. Then three years go by, nothing's changed. The market's gone up more and they just lost out on time in the market.
So at the end of the day, rates are where they are. Either you can afford to buy or you can't based on what those rates are at. I would keep it very simple.
And if down the road, the rates come down and you can refight at another point, then great. But don't base upon purchasing your home on being able to do a refinance a year, two years down the road, because you just don't know if that's going to be the case. So pay attention to that.
